HomeMy WebLinkAbout891230.tiff RESOLUTION
RE: APPROVE SUBCONTRACT AGREEMENT WITH GREELEY/WELD ECONOMIC
DEVELOPMENT ACTION PARTNERSHIP AND AUTHORIZE CHAIRMAN TO SIGN
WHEREAS , the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Subcontract
Agreement with Greeley/Weld Economic Development Action
Partnership, and
WHEREAS, the terms and conditions of said Agreement are as
stated in the Agreement, a copy being attached hereto and
incorporated herein by reference, and
WHEREAS, after study and review, the Board deems it advisable
to approve said Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Subcontract
Agreement with Greeley/Weld Economic Development Action
Partnership be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Agreement.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 22nd day of
November, A.D. , 1989 .
�j BOARD OF COUNTY COMMISSIONERS
ATTEST:' U,.t <�� u (k � WELD COUNTY, COLORADO
Weld County Clerk and Recorder
and Clerk to the Boar C.W. Kir y, C airman
EXCUSED
Gene R. Brantner, Pro-Tem
eputy County Cl k �
APPR VED AS TO FORM: Constance L. arbert
EXCUSED DATE OF SIGNING - AYE
George
0
County Attorney 11//��__
Gor4 c Lac
/t'1G"aa';it' e /7)/a T - 891230
SUBCONTRACT AGREEMENT
BETWEEN
WELD COUNTY
AND
GREELEY/WELD ECONOMIC DEVELOPMENT ACTION PARTNERSHIP
THIS AGREEMENT is entered into this ,,?(; day of
Co'uer)vte47) 1989 , by and between the Weld County Board of
nty Commissioners (hereinafter "the County" ) and the
Greeley/Weld Economic Development Action Partnership (hereinafter
"EDAP") .
WITNESSETH:
WHEREAS, the County has received a Community Development
Block Grant (CDBG) award of $250, 000 . 00 from the State of Colorado
Department of Local Affairs pursuant to Contract Number
(hereinafter "the Contract") for a multi-jurisdictional econom cici
development revolving loan fund, hereinafter referred to as the
Weld/Larimer Revolving Loan Fund (RLF) , and;
WHEREAS, EDAP has been designated to administer these CDBG
funds on behalf of the County, and;
WHEREAS, up to $12,000 .00 of CDBG funds are allowed under
"Specific Provisions" in the Contract ' s Scope of Services for
restricted administrative purposes.
NOW, THEREFORE, in consideration of the mutual promises and
covenants contained herein, the parties hereto agree as follows:
1 . The CDBG funds will be utilized in the furtherance of
economic growth, creation of jobs, and fulfillment of the purposes
set forth in the Contract Scope of Services found in Exhibit A,
which is attached hereto and made a part of this agreement.
2. The CDBG funds shall be requested by EDAP from the
Department of Local Affairs as prescribed in Part X, Section II of
the Community Development Block Grant Program 1984 Grantee
Handbook, and placed in the Greeley National Bank, a Federally
Insured Depository, in the name of the Weld/Larimer Revolving Loan
Fund. Coordination between the County and EDAP shall be made to
ensure consistency with the fund request procedures as established
for the CDBG program.
891230
Page 2
RE: SUBCONTRACT AGREEMENT - EDAP
3 . It is agreed that the CDBG program income will be used
for future business development and expansion loans . Program
income shall consist of all income derived from the use of CDBG
funds , less reasonable administrative expenses. It is intended
that the RLF become self-sufficient from program income.
4 . EDAP will utilize CDBG administrative funds and other
resources (up to $12,000 .00) to provide administrative services
for the RLF program, which include the following:
a) Activities and function for loan packaging and
business technical assistance covered by CDBG Contract
administrative provisions, such as work done to: solicit
business participation; assist businesses in completing
applications, business plans, and financial statements;
identify private or other public lender interest and
participation; review and evaluate loan applications; assist
in loan closing; monitor funded business projects; provide
management assistance; coordinate secondary market loan sales
for recapitalization purposes; conduct related business
seminars and the RLF workshop; and any associated travel,
telephone, clerical, and supply costs. Also covered is work
needed for individual business projects in meeting with
environmental, labor standards, employment, and other
compliance requirements. The primary source of cash match
for CDBG administrative funds will be program income, with
any local cash or other permissible resources utilized if
needed.
b) Other administrative activities and functions,
shall include grant and RLF financial management, general
office management, payments, preparation and maintenance of
project files and records, and preparation of additional
grant applications.
5. EDAP will comply with all terms and conditions of the
Contract and all applicable laws in carrying out project
operations, and shall assign management and coordination
responsibilities to the EDAP Assistant.
6. A Loan Review Committee (LRC) consisting of three
representatives who are residents of Larimer County appointed by
the Larimer County Commissioners, and three representatives who
are residents of Weld County appointed by the Weld County
Commissioners shall be established. The LRC shall have authority
to establish loan criteria, commit money for loan projects, and
determine operational procedures and policy which will guide and
prioritize the EDAP staff efforts.
891230
Page 3
RE: SUBCONTRACT AGREEMENT - EDAP
7 . EDAP will recruit and select, in conjunction with the
LRC, an experienced Loan Officer to supplement staff efforts for
the project who will report to the EDAP Director. Initially,
duties will be carried out on a part-time, consultant basis. Any
fees for this service shall be paid out of the administrative
funds of the grant program.
8 . Consistent with LRC policy, borrowers will be charged
the cost of credit reports and appraisals, loan origination fees,
closing costs, and other related expenses.
9. The County, LRC, and EDAP agree to treat all loans and
loan applications in a confidential manner in accordance with all
applicable laws and regulations.
10. EDAP will provide for an audit of the CDBG program as
part of its annual audit report, and will provide all RLF
documentation to the County for audit.
11 . EDAP anticipates adequate funding levels for its
organization during the term of the agreement. In the event any
difficulties are projected which might potentially affect any part
of its administrative obligations under this agreement, EDAP will
inform the County and make every effort to seek appropriate
solutions or identify alternative arrangements in order to meet
Contract requirements.
12 . EDAP shall fulfill all administrative and reporting
requirements of the CDBG as required per the attached CDBG
Contract, Exhibit A, which is attached and made a part of this
agreement, to ensure full grant compliance on the County' s behalf
at all times.
13. EDAP agrees to reimburse the County for any funds
disallowed or penalties under the CDBG due to any administrative
error or omission, fraud, theft, or negligence by EDAP or EDAP 's
staff. EDAP shall indemnify the County for any and all liability
or loss suffered by the County and resulting from any such
administrative error or omission, fraud , theft, or negligence by
EDAP or EDAP' s staff.
14 . EDAP agrees to prepare all necessary environmental
reviews , public notices, loan documents, and other documents
required to comply with the CDBG rules and regulations. The Weld
County Attorney shall review and approve as to form all loan
documents prior to execution in this program.
891230
Page 4
RE: SUBCONTRACT AGREEMENT - EDAP
15 . The signatory as the Certifying Official for
environmental reviews shall be the EDAP Director. EDAP shall also
prepare the quarterly progress reports within 15 days following
the end of the quarter under this grant and present them to the
County for approval and signing. When required, the signatory for
the abovementioned environmental review public notices shall be
the Chairman of the Board of County Commissioners. In these
situations the reports prepared shall be presented to the County
for review prior to publication. The EDAP Director shall also be
authorized to sign the statement of necessity, Request for Advance
or Reimbursement, and the Financial Status Report. These latter
two documents shall be reviewed by the County' s Finance Officer
prior to transmittal and a copy retained for county records.
16 . EDAP shall maintain all public records for this HUD-CDBG
program at their corporate offices and provide public access to
these records during normal business hours. Personal financial
records and other confidential information concerning individual
borrowers under the program shall be held confidential and with
limited access as identified in the loan policy statement. Actual
loan documents including the amount and terms of the loan and
other contracts with individual businesses shall be made available
upon request. The County shall have unlimited access to all
records pertaining to this program.
17. EDAP shall be allowed to retain all forms of program
income. Upon dissolution these funds shall be returned to the
County.
18 . This agreement may be amended or assigned in writing by
the mutual agreement of the parties.
np '' 19 . Tilts agreement entered into this -2( day of
/V51/ern/i,, , 1989, shall be in force during the Grant Period
and shall terminate upon completion of all project close-out
requirements as specified in the 1984 Grantee Handbook. For
non-performance by EDAP, the County can terminate this Agreement
with seven days notice to EDAP.
891230
Page 5
RE: SUBCONTRACT AGREEMENT - EDAP
ATTEST: / tiw"'"' nA BOARD OF COUNTY COMMISSIONERS
Weld County Vlerk and Recorder
and Clerk to the and BY: '
`\r C. W. Kir. , Chairman
Deputy Clerk a d Recorder
WELD/GREELEY ECONOMIC
DEVELOPMENT ACTION PART ERSHIP
BY: l .Llf� �
z an
SUBSCRIBED AND SWORN to befo me this day of
rL
, 1989 .
WITNESS my hand and official seal.
a
d ti 6r�' .1� 'l.7�
Notary Public
My commission expires:
My Commission Expires June 8, 1990
891230
Hello